ALOV 10-K & 10-Q changes, risk factors and insider trading

As of MarchJune 31,30, 2026, the Company had not commenced any operations. All activities for the three and six months ended MarchJune 31,30, 20262026, relatesrelates, prior to the Company’sInitial Public Offering, formation and preparation for the Initial Public Offering.Offering, and after the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of our initial Business Combination, at the earliest. The Company generates non-operating income in the form of interest income on cash from the proceeds derived from the Initial Public Offering and sale of Private Placement Warrants (defined below). We expect to incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended MarchJune 31,30, 2026, we had a net income of $1,242,255,$1,645,634, which consisted of interest earned on marketable securities held in Trust Account of $1,900,715$1,849,247 offset by general and administrative expenses of $658,460.$203,613.

Until the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of Class B ordinary shares, par value $0.0001 per share, by the Sponsor and loans from the Sponsor which were repaid at the closing of the Initial Public Offering. As of MarchJune 31,30, 2026, we had cash of $1,070,844$891,230 and working capital surplus of $1,095,935.$892,322.

For the threesix months ended MarchJune 31,30, 2026, net cash used in operating activities was $710,646.$890,260. Net income of $1,242,255$2,887,889 was affected by the interest earned on marketable securities held in Trust Account of $1,900,715,$3,749,962, changes in prepaid insurance of $117,753,$101,523, accounts payable of $9,042,$22,554, accrued expenses of $45,525,$40,782, and due to related party of $11,000.$10,000.

For the threesix months ended MarchJune 31,30, 2026, net cash used in investing activities was $300,150,000, which was due to the cash deposited into the Trust Account of $300,150,000.

For the threesix months ended MarchJune 31,30, 2026, net cash provided by financing activities was $301,907,907, which was due to the proceeds from sale of Units, net of underwriting fees and reimbursement paid of $294,907,388 and proceeds from sale of Private Placement Warrants of $7,300,000 and Promissory Note (as defined below) of $50,000 offset by the payment of the Promissory Note of $250,000 and offering costcosts of $99,481.

We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of MarchJune 31,30, 2026. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Commencing on January 23, 2026, the Company agreed to pay the Sponsor or an affiliate a total of $30,000 per month for general and administrative services, including office space and administrative services. Upon completion of the initial Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees. As of MarchJune 31,30, 2026, the Company incurred fees for these services of $71,000.$160,000.

On August 7, 2025, the Sponsor agreed to loan the Company an aggregate of up to $250,000 to cover expenses related to the Initial Public Offering pursuant to a promissory note (the “Promissory Note”). This loan is non-interest bearing and payable on the earlier of December 31, 2025 or the date on which the Company consummates the Initial Public Offering of its securities. Prior to the Initial Public Offering, the Company had borrowed $300,000$250,000 under the Promissory Note. AsOn January 23, 2026, the full balance was repaid in connection with the close of Marchthe 31,Initial 2026,Public thereOffering. wasThere is no outstanding balance under the Promissory Note. Borrowings under the Promissory Note are no longer available.